Unit 6 Specific Performance Elizabeth A. Combs LS 311: Business Law I-01 Kaplan University Professor Toni Starcher February 14, 2012 Unit 6 Specific Performance “The equitable remedy of Specific Performance calls for the performance of the act promised in the contract. This remedy is often attractive to a nonbreaching party because it provides the exact bargain promised in the contract,” (Miller & Jentz, 2008). With this being said, we can now take a look at our assignment scenarios
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MANDATES Piec vs. Caisse d’economie polonaise (p. 59) 01-Jul-92 Date of Bad Boy’s forged mandate 15-May-92 Bad Boy gets mandate from Grandma 03-Jul-92 Grandma dies 11-Aug-92 Bad Boy gives forged mandate to bank Bad Boy comes to Canada 18-Aug-92 Bad Boy withdraws $26k payable too cash Grandma = Stephania Wojcicka Bad Boy = nephew Tadeusz Wojcicki Niece (Margaret Wojcicka) is executor of will Facts | * Three mandates: 1. Gma goes on extended trip, gives power of attorney
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Wolsey was The ignored illegal practice of enclosure, which involved the fencing-off of common land for sheep rearing, was a profitable method of agriculture that Wolsey clamped down on with an iron fist during his 'rule'. In 1517, aware of the impacts of enclosure on rural depopulation and poverty Wolsey began his assault on the illegal and immoral practice, with the beginning of a national inquiry. As part of the inquiry, many were brought to court and ordered to rebuild buildings and restore
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Case 15-2 Burying the Hatchet Mighty Mufflers Corp. (MMC) manufactures exhaust systems that automakers use in the production of new vehicles. Competition in this market has waned in recent years. Many competitors exited the business in the economic downturn and few have returned because of the capital-intensive nature of the manufacturing process. In 20X1, the Department of Justice (DOJ) launched an investigation involving MMC and two additional auto parts suppliers, alleging anticompetitive
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rule Where the competing interests are equitable, the general rule is that if the equities are equal, the first in time will prevail. Latec Investments Ltd v Hotel Terrigal Pty Ltd (1965) 113 CLR 265 Wu v Glaros (1991) 55 SASR 408 Precise classification of the competing equitable interests is largely irrelevant to determining priority between them, unless one of the competing equitable interests is in fact a mere equity or the earlier equitable interest is a beneficial
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S. raise their long-term debt ratios by 2 to 3 percentage points. This finding is consistent with the idea that, although the reduction in information asymmetry associated with SOX could prompt managers to increase equity financing, debt is still safer and less costly than equity in the SOX era. Further analysis shows that the increase in debt occurs in the two quarters prior to SOX, suggesting that firms anticipate a higher cost of debt after SOX and acquire debt while it is relatively cheap
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Pacer Ltd transferred equipment to Thelma Ltd in exchange for the receipt of $1M cash and a 25% equity ownership stake in Thelma Ltd. Pacer Ltd’s book basis in the transferred equipment was $6M, and the equipment was recently appraised for $6.5M. The fair value of the investment in Thelma Ltd is $5.5M, and the fair value is reliably determined. The investment gives Pacer Ltd significant influence over Theta, but is not a controlling financial interest in Thelma Ltd. Thelma Ltd is in the business
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Issue 1 The education Enterprise in the WFOE case should be deemed a VIE. According to U.S.GAAP code 810-10-15-14-b, a legal entity could be considered to be VIE if the conditions in section b exists. In section b, as a group the holders of the equity investment at risk lack any one of the following three characteristics of a controlling financial interest: 1. The direct or indirect ability through voting rights or similar rights to make decisions about a legal entity's activities that have a
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Consolidation of Variable Interest Entities A Roadmap to Applying the Variable Interest Entities Consolidation Model March 2010 FASB material, copyright © by the Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, is reproduced with permission. This publication is provided as an information service by the Accounting Standards and Communications Group of Deloitte & Touche LLP. It does not address all possible fact patterns and the guidance is subject to change
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What motivates Frank and how has that changed over the years? Frank seems to be a “natural entrepreneur”. By this I mean he has a natural talent and the vision to connect a market with a solution as well as being attuned to seeing possible great ideas which others might miss. His first venture took off while in college when he worked for himself installing car alarms and automatic auto remote starters. This shows he had a strong work ethic and motivation to succeed and manage his life.
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